To be eligible for a fiscal sponsorship from HelpNet a project must be charitable in purpose with a goal of becoming independent within six months. HelpNet fiscal sponsorship agreement is valid for six months with extension possible.
The following are NOT eligible for fiscal sponsorship:
The first step is a letter of inquiry which must be submitted with the information requested.
The letter of inquiry request information about your project: its mission, planned activity, its current stage of development, and the proposed budget/funding.
HelpNet USA provides forms for the processing of payment requests, issues checks to the providers of goods and services, accepts and records cash receipts, and produces monthly financial reports.
HelpNet does not provide funding of payments beyond the level of funds on hand for the project. We act as your “bank”, disbursing payments only to the extent that funds are available. HelpNet does not pay interest on the funds it holds for fiscal sponsorships.
HelpNet does not provide audit services or reporting to tax and regulatory agencies. Assistance to fiscal sponsorships for audits and reports can be done on an hourly rate basis
HelpNet records all cash receipts and cash disbursements based on the forms as submitted and coded by the fiscal sponsorship. Project administrators are responsible for submittal of correctly coded payment requests and proper documentation, and for monitoring their own cash flow.
No. Each fiscal sponsorship must secure its own business insurance. Fiscal sponsorship coverage is usually best obtained through an individual umbrella policy. HelpNet must be a named insured, whatever the insurance policy.
HelpNet collects a fee an application fee of $39 at time of agreement, along with a percentage at the time funds are received. Fees range from 3-10% of revenue, depending on transaction or donation amount. Also, if additional services are needed, we may provide a separate quote depending on requirements and time.